Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Retreats Despite Middle East Conflict

Natural Gas

Natural gas continues its attempts to settle above the $2.90 level as traders stay focused on the hurricane season.

If natural gas stays above $2.90, it will move towards the next resistance level at $3.05 – $3.10.

WTI Oil

WTI oil pulls back despite rising tensions in the Middle East. Traders focus on China’s Caixin Manufacturing PMI, which dropped below the 50 level in September.

In case WTI oil settles below the $68.00 level, it will head towards the support at $64.00 – $64.50.

Brent Oil

Brent oil is losing ground as traders remain worried about China’s economic problems.

A move below the $71.50 level will open the way to the test of the support at $69.50 – $70.00.

For a look at all of today’s economic events, check out our economic calendar.